By Reuters Staff 1 Min Read FILE PHOTO: An employee fixes a VW sign at a production line of the electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias Rietschel/File Photo MADRID (Reuters) – A Spanish court has ordered German carmaker Volkswagen to pay 16.3 million euros ($19.8 million) in compensation to people… Continue reading VW ordered to pay $20 million in Spanish diesel claim, carmaker to appeal
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GM warns Indian state’s move to block its exit could hit investment
By Ben Klayman, Aditi Shah 2 Min Read FILE PHOTO: The General Motors Co. headquarters is seen in Detroit, Michigan, U.S., January 13, 2019. REUTERS/Brendan McDermid/File Photo DETROIT/NEW DELHI (Reuters) – An Indian state’s move to block General Motors (GM) from shutting a plant and exiting the country defies the state’s business friendly image and… Continue reading GM warns Indian state’s move to block its exit could hit investment
Ford to recall 3 million vehicles for air bags at $610 million cost
By David Shepardson 3 Min Read WASHINGTON (Reuters) – Ford Motor Co said on Thursday it will recall 3 million vehicles for air bag inflators that could rupture, at a cost of $610 million. FILE PHOTO: Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. REUTERS/Wolfgang Rattay/File Photo/File Photo The… Continue reading Ford to recall 3 million vehicles for air bags at $610 million cost
Exclusive: Air taxi startup Joby explores deal to go public – sources
By Joshua Franklin, Anirban Sen 2 Min Read Joby-aircraft-web (Reuters) – Electric passenger aircraft developer Joby Aero Inc is exploring a deal to go public through a merger with a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter. Joby has hired investment banks to solicit interest… Continue reading Exclusive: Air taxi startup Joby explores deal to go public – sources
BMW targets higher margins while investing in electric cars
By Christina Amann 3 Min Read MUNICH (Reuters) – BMW aims to return to its pre-pandemic operating margin target as the global economy recovers, but big investments in electric cars mean the automaker will have to simplify its vehicle portfolio, its finance chief told Reuters. Slideshow ( 3 images ) Nicolas Peter said orders had… Continue reading BMW targets higher margins while investing in electric cars
Mercedes sales boss confident will resolve semiconductor shortages
By Reuters Staff 1 Min Read FILE PHOTO: Mercedes-Benz logo is seen in front of Mercedes-Benz Global Training Center as Daimler holds its virtual annual shareholders’ meeting, in Stuttgart, Germany, July 8, 2020. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – The sales chief of Daimler’s Mercedes unit is confident that the company will sort out semiconductor bottlenecks… Continue reading Mercedes sales boss confident will resolve semiconductor shortages
Audi aims to sell one million cars in China in 2023
By Reuters Staff 1 Min Read FILE PHOTO: A logo of the German car manufacturer Audi is pictured at a dealership in Kiev, Ukraine June 9, 2020. REUTERS/Valentyn Ogirenko BEIJING (Reuters) – German premium automaker Audi aims to sell 1 million vehicles in China in 2023, versus 726,000 vehicles in 2020, the brand’s China chief… Continue reading Audi aims to sell one million cars in China in 2023
China’s Geely teams up with Tencent on smart car tech
By Reuters Staff 1 Min Read Slideshow ( 4 images ) BEIJING/SHANGHAI (Reuters) – China’s Zhejiang Geely Holding Group, which owns Volvo Cars and holds 9.7% of Daimler, said on Tuesday it has signed an agreement with Tencent Holdings Ltd to develop smart vehicle cockpit and autonomous driving. In the latest such partnership in the… Continue reading China’s Geely teams up with Tencent on smart car tech
China’s Geely to work on smart car technologies with Tencent
By Reuters Staff 1 Min Read FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016 auto show in Beijing, China April 25, 2016. REUTERS/Kim Kyung-Hoon BEIJING/SHANGHAI (Reuters) – China’s Zhejiang Geely Holding Group said on Tuesday it has signed an agreement with Tencent Holdings Ltd to develop smart vehicle cockpit… Continue reading China’s Geely to work on smart car technologies with Tencent
Exclusive: Southeast Asia’s Grab considering U.S. IPO this year – sources
By Anshuman Daga 2 Min Read FILE PHOTO: A Grab vehicle is pictured in Singapore March 26, 2018. REUTERS/Edgar Su/File Photo SINGAPORE (Reuters) – Southeast Asian ride-hailing and food delivery giant Grab is exploring a listing in the United States this year, encouraged by robust investor appetite for IPOs, three sources familiar with the matter… Continue reading Exclusive: Southeast Asia’s Grab considering U.S. IPO this year – sources